Tauranga section shortage gets relief

Aerial of Papamoa.

The strain on Tauranga's supply of property sections will receive some relief with the unveiling of a new Papamoa subdivision.

The latest development will see a total of 380 residential lots spring up off the new Te Okuroa Drive extension in Papamoa.

Stage one is comprised of 90 lots, with 18 lots available for public sale by Tauranga-based property development company Zariba Properties Limited.

The public sale is one day only, held on Saturday March 12.

The one day sale comes off the back of recent other public sales handled by Frasers Property in Papamoa which saw dedicated property-hunters camp out overnight to secure one of the highly sought-after sections.

The remaining 72 Zariba lots were pre-sold largely to group builders.

The sections available range in price from $245,000 and vary in size from 382 sqm to 800 sqm.

Zariba managing director Dwayne Roper said there was community value in selling some of the site directly to the public, but said builders were able to purchase them as well.

The latest development 'Terrace Views' will be developed in four stages, Mr Roper said, with the remaining three stages rolling out as the market dictates.

The 18 sections being offered will be available for sale from 10am on Saturday March 12 via an on-line auction system. Prior registration and authorisation is required in order to participate in the process at www.terraceviews.co.nz.

"Bids will be taken from 10am on the day. The highest bid on each section will be updated hourly up until, and including, 3pm, with bidding closing at 4pm. Those requiring any assistance with the on-line auction process can contact the Zariba team via the website," Mr Roper said.